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Exploring estate plan options may be beneficial in Maryland

If Maryland residents do not create a will before they die, it is possible that their surviving families could face complications when it comes to various estate issues. Litigation could occur pertaining to custody of children, division of assets or other factors, and the surviving relatives could lose time and money during such proceedings. Therefore, individuals may wish to consider creating an estate plan.

Creating an estate plan does not have to scare Maryland residents

Though estate planning may involve answering numerous questions, the process does not have to be a frightening one. By understanding what areas need focus and what questions need answering, Maryland residents may feel more comfortable moving forward. Having the right information and assistance could go a long way in ensuring that an estate plan is created in the smoothest manner possible.

An estate plan may benefit Maryland residents at any age

Having a near-death experience can often trigger individuals into taking action. Some Maryland residents may feel the need to travel more or take advantages of other opportunities, and others may begin to wonder how their families would get along after their deaths. Though it is hoped that such an experience is not needed to spur individuals into action, creating an estate plan could help ease the worries that may stem from such an event. 

Updating a will may not address all estate assets in Maryland

Many Maryland residents take proactive steps to ensure that their estate plans stay up to date. However, some individuals may think that updating a will is the equivalent of updating all related documents, and that notion is simply not the case. Though updating a will to reflect desired changes is important, if individuals also want changes made to beneficiaries, those may need to be addressed separately.

Naming estate plan beneficiaries may concern Maryland residents

In many movies and other fictional depictions of the reading of a will, there are often conflicts, unexpected inheritances and instances in which at least one individual feels cheated out of an asset. As a result, many Maryland residents in real life may feel as if they could easily make the wrong decision when considering who should inherit certain property after their deaths. Therefore, while creating an estate plan, it may be prudent to discuss the decisions being made.

Going through divorce? It's time to revisit your estate plan.

If you are getting divorced or the ink has just dried on your divorce agreements, it's time you thought about your estate planning documents. Oftentimes, people forget to think about their will, trusts or other estate planning instruments because they are so caught up in their divorce proceedings.

Digital assets may be essential part of any Maryland estate plan

For many Maryland residents, addressing an estate and how it should be handled in the event of a death may be a daunting task. There are often various property and assets that may need to be accounted for, and individuals could have a difficult time deciding to whom they want their assets to be bequeathed. However, the benefits from creating an estate plan are often well worth the time spent on it.

Video: No one is perfect (but your estate plan can come close)

There are some very common mistakes people make when it comes to estate planning. Perhaps the biggest mistake would be to not have any type of plan in place at all. Other mistakes include not updating a will, leaving out critical details, including unenforceable clauses and/or failing to assign power of attorney.

Video: The Estate Planning Process

Estate planning doesn't have to be like the movies, where an individual on his or her deathbed might scratch out final wishes on a scrap of paper. Yet a surprising number of Americans continue to pass without having an estate plan in place.

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